Eder Financial Inc
- Assets
- $485.7m
- Revenue
- $30.1m
- Investments
- $32.5m
- Employees
- 36
- Location
- Elgin, IL
- Founding
- 03/1991
- Data as of
- 12/2023
- EIN
- 36-3668497
Organization Overview
Eder Financial Inc is located in Elgin, IL. The organization was established in 1991. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Eder Financial Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eder Financial Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Eder Financial Inc generated $30.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $34.7m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EDER FINANCIAL, INC. HAS A STATED PURPOSE TO SUPPORT THE FINANCIAL WELL-BEING OF THE CHURCH OF THE BRETHREN AND OTHER PERSONS AND GROUPS THAT SHARE SIMILAR VALUES BY OFFERING PROGRAMS THAT PROVIDE RETIREMENT, MEDICAL AND FINANCIAL AID BENEFITS TO MINISTERS, MISSIONARIES AND LAY EMPLOYEES OF CERTAIN CHURCHES AND CHURCH RELATED AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES RETIREMENT BENEFITS FOR ORDAINED AND LAY PASTORS AND CHURCH WORKERS, AND EMPLOYEES OF CONGREGATIONS, DISTRICTS, CAMPS, AGENCIES, AND AFFILIATED ORGANIZATIONS OF THE CHURCH OF THE BRETHREN AND OF OTHER LIKE-MINDED DENOMINATIONS AND GROUPS.
PROVIDE MEDICAL, DENTAL, VISION, LONG TERM DISABILITY AND LIFE INSURANCE TO ORDAINED AND LAY PASTORS AND EMPLOYEES OF CONGREGATIONS, DISTRICTS, CAMPS, AGENCIES, AND AFFILIATED ORGANIZATIONS OF THE CHURCH OF THE BRETHREN AND OF OTHER LIKE-MINDED DENOMINATIONS AND GROUPS.
CHURCH WORKERS ASSISTANCE PLAN - PROVIDES FINANCIAL AID AND EMERGENCY ASSISTANCE TO CHURCH OF THE BRETHREN PASTORS AND EMPLOYEES OF CONGREGATIONS, DISTRICTS, AND CAMPS WHO MEET TENURE REQUIREMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Boyer Board Member | Trustee | 0.33 | $0 |
Sara Davis Board Member | Trustee | 0.33 | $0 |
Jan Fahs Board Member | Trustee | 0.33 | $0 |
Katherine Haff Board Member | Trustee | 0.33 | $0 |
Donna March Board Member - Past | Trustee | 1 | $0 |
Russ Matteson Board Member | Trustee | 0.33 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milliman Inc Consulting Firm | 12/30/22 | $220,948 |
Conner & Winters Llp Law Firm | 12/30/22 | $105,532 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,466 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,466 |
| Total Program Service Revenue | $9,959,574 |
| Investment income | $11,461,244 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,817,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,148,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $281,575 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $26,997,685 |
| Compensation of current officers, directors, key employees. | $792,596 |
| Compensation of current officers, directors, key employees. | $637,936 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,813,248 |
| Pension plan accruals and contributions | $195,653 |
| Other employee benefits | $865,705 |
| Payroll taxes | $164,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,868 |
| Fees for services: Accounting | $69,733 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,466,847 |
| Fees for services: Other | $906,536 |
| Advertising and promotion | $30,103 |
| Office expenses | $145,991 |
| Information technology | $101,842 |
| Royalties | $0 |
| Occupancy | $50,853 |
| Travel | $145,957 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56,234 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,220 |
| Insurance | $388,207 |
| All other expenses | $53,643 |
| Total functional expenses | $34,680,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,498,634 |
| Savings and temporary cash investments | $52,075,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,097,493 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $442,266 |
| Net Land, buildings, and equipment | $55,047 |
| Investments—publicly traded securities | $396,921,224 |
| Investments—other securities | $32,541,326 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $115,659 |
| Total assets | $485,746,770 |
| Accounts payable and accrued expenses | $707,572 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,405,110 |
| Total liabilities | $39,112,682 |
| Net assets without donor restrictions | $446,634,088 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $485,746,770 |
Grants Awarded
Over the last fiscal year, Eder Financial Inc has awarded $50,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CROSS KEYS VILLAGE PURPOSE: HARDSHIP GRANT | $10,000 |
BRETHREN RETIREMENT COMMUNITY PURPOSE: HARDSHIP GRANT | $10,000 |
TIMBERCREST SENIOR LIVING PURPOSE: HARDSHIP GRANT | $10,000 |
VILLAGE AT MORRISON'S COVE PURPOSE: HARDSHIP GRANT | $10,000 |
PINECREST COMMUNITY PURPOSE: HARDSHIP GRANT | $10,000 |